Daily Report

21 de Novembro de 2024
Financial Markets | daily report 21.11.2024
  • Investors' risk appetite waned yesterday amid renewed tensions in the war in Ukraine. Government bond yields rose in the Eurozone, where data released yesterday showed that negotiated wage growth accelerated to 5.4% in Q3 from 4.6% in Q2, which could cause the ECB to reconsider its dovishness if this feeds through to inflation in the coming months.
  • US Treasury yields also rose as two Fed governors speaking during the day showed a divergence in the pace of future rate cuts. Equity markets were marginally lower across developed markets as investors awaited results from Nvidia, which once again highlighted the difficulties in meeting the high demand for chips used to develop AI models.
  • In currency markets, the dollar strengthened on heightened geopolitical tensions, while bitcoin hit new highs. In commodities, Russia-Ukraine tensions caused European gas prices to rise, but their impact on oil prices was not enough to offset a larger-than-expected rise in US crude and gasoline stockpiles last week.